BizBench uses the very detailed data updated yearly from The Risk Management Association (RMA) as its core benchmarking standard. It is the depth and breadth of data that gives BizBench the ability to provide such detailed reports based on NAICS codes.
RMA is a not-for-profit, member-driven professional association serving the financial services industry. Since its foundation in 1914 ss a membership focused organization its sole purpose has been to advance the use of sound risk principles in the financial services industry. RMA prides itself as promoting an enterprise approach to risk management that focuses on credit risk, market risk, operational risk, securities lending, and regulatory issues.
Today, RMA has approximately 2,500 institutional members from a wide array of industries such as banks of all sizes as well as non-bank financial institutions as it strives to assist those in the financial industry. RMA is proud of the leadership role its member institutions take in the financial services industry. Relationship managers, credit officers, risk managers, and other financial services professionals in these organizations with responsibilities related to the risk management function represent these institutions within RMA.
BizBench is proud of its working relationship with RMA. As a report it furthers the goal of RMA to “advance the use of sound risk principles in the financial services industry”.
BizBench is a web based multi-purpose benchmarking financial analysis and consulting tool that instantly identifies a business strengths and weaknesses. This report also generates action steps for companies to help them improve those identified weaknesses. Financial professionals, who use BizBench, help their clients identify gaps in performance, so they can create specific strategies that will increase profitability.